Well-Spring Retirement Community Inc
Well-Spring Retirement Community Inc is a public charity based in Greensboro, North Carolina. Formed in 1987, it says it provides aging-adult services and was organized to operate a continuing care retirement community.
Key facts about Well-Spring Retirement Community Inc
In short: Well-Spring Retirement Community Inc gave $508K across 10 grants in 2024 (avg $51K), mostly in North Carolina. 30% of 2024 grantees were new. Source: 2024 IRS Form 990.
- EIN
- 56-1497371
- Latest 990 filing
- Form 990, 2024
- Annual giving (2024)
- $507,500
- Grants made (2024)
- 10
- Average grant
- $50,750
- Median grant
- $10,000
- New grantees (estimate)
- 30% first-time grantees (3 of 10, 2024; small sample)
- Total assets
- $139,126,189
- Primary geography
- North Carolina (99% of itemized 2024 grant dollars)
Data from IRS Form 990, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
Financial Overview
From 2024 IRS Form 990 · View filing
Total Assets
$139.1M
+0.3% YoY
Annual Giving
$508K
-16.6% YoY
Grant Count
10
-37.5% YoY
Avg Grant Size
$51K
+33.4% YoY
Is Well-Spring Retirement Community Inc open to new grantees?
30%
first-time grantees, 2024
In 2024, 3 of 10 grantees (30%) were first-time recipients. With only 10 grantees, that is a small sample: one grantee more or less moves the share by about 10 points. First grants averaged $6K; repeat grants $70K. How we count
Medians: $5K first-time, $14K repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The organization states that its mission is to provide aging-adult services that create an experience exceeding the needs of an evolving population of older adults.
Its 2024 grants included general support for organizations working in older-adult services, health care, hospice and palliative care, arts and culture, higher education, and community relations. For example, Adult Center for Enrichment describes its mission as meeting older adults’ needs through home- and community-based services; Cone Health describes its work as preventing illness, restoring health, and providing care; and AuthoraCare Foundation says it supports AuthoraCare Collective through fundraising and asset management.
Grantmaking
In 2024, the organization reported 10 grants totaling $507,500. Grant amounts ranged from $5,000 to $328,000, with a median of $10,000. All itemized grants were reported as general support. The largest awards were $328,000 to Adult Center for Enrichment Inc, $75,000 to Cone Health, and $47,500 to AuthoraCare Foundation, all in Greensboro.
Other reported grants included $13,500 to Downtown Greenway; $10,000 each to Greensboro Symphony Orchestra and Appalachian State University Foundation; $7,500 to Alzheimer’s Association; $6,000 to North Carolina for Community and Justice Inc; and $5,000 each to Beth David Synagogue and Greensboro Literary Organization. The Greensboro Symphony Orchestra describes its mission as enriching cultural life through music and music education; Appalachian State University Foundation says it supports the university community; and Greensboro Literary Organization describes its work as promoting contemporary literature and public education about literature.
The filing says the organization receives periodic reports from organizations receiving donated funds to establish scholarships.
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Geographic Focus
Where this funder awards grants
In 2024, 99% of grant dollars went to recipients in North Carolina and 1% to recipients in Illinois.
Grant Distribution by State
Share of 2024 grant dollars across all 10 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $508K (2024) to $996K (2021). In 2024 it made 10 grants totaling $508K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Adult Center for Enrichment Inc ($328K). Together the top 10 received $508K.
Grant Size Distribution
97 grants across all recorded years
The most common grant size was under $50K: 84 grants of 97 (87%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Adult Center for Enrichment Inc Greensboro, NC | General Support | $328,000 |
| Cone Health Greensboro, NC | General Support | $75,000 |
| Authoracare Foundation Greensboro, NC | General Support | $47,500 |
| Downtown Greenway Greensboro, NC | General Support | $13,500 |
| Greensboro Symphony Orchestra Greensboro, NC | General Support | $10,000 |
| Appalachian State University Foundation Boone, NC | General Support | $10,000 |
| Alzheimer S Association Chicago, IL | General Support | $7,500 |
| North Carolina for Community and Justice Inc Greensboro, NC | General Support | $6,000 |
| Beth David Synagogue Greensboro, NC | General Support | $5,000 |
| Greensboro Literary Organization Greensboro, NC | General Support | $5,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2024 | $139,126,189 | $42,978,331 | $41,407,976 | $507,500 |
| 2023 | $138,730,668 | $39,926,094 | $41,111,393 | $608,730 |
| 2022 | $137,378,238 | $36,704,666 | $36,925,554 | $971,976 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $139,126,189 | $138,730,668 | $137,378,238 |
| Revenue | $42,978,331 | $39,926,094 | $36,704,666 |
| Expenses | $41,407,976 | $41,111,393 | $36,925,554 |
| Net Investment Income | $3,037,279 | $1,515,409 | $1,416,879 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 11, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS December 22, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 14, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS September 25, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 13, 2025)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Kathryn Cookie Billings as chair; Kenneth Boggs as vice-chair and immediate past chair; and Jean Davison as assistant secretary. It also lists Jerry Bailey, Anthony Boyd, Chris Brown, Warren Webster, Barry Canner, Bob Chandler, and Tim Clontz as board members.
The organization’s filing describes its board of trustees as comprising 25 civic leaders who serve without compensation for staggered three-year terms.
Well-Spring Retirement Community Inc is led by Stephen P. Fleming, President CEO since 2024 (on filings since 2020); 5 of 24 officers listed in 2024 are compensated.
Officers on the 2024 filing
Stephen P. Fleming
President CEO
President & CEO → President CEO, 2024
On filings since 2020
5 hrs/week
No compensation reported
Misti Ridenour
Executive Director
Director of Healthcare → Executive Director, 2023
On filings since 2020
40 hrs/week
$153K (2020) → $236K (2024)
Kathryn Cookie Billings
Chair
Vice Chair & Immediate Past → Vice Chair & Imm. Past Chair, 2022
Vice Chair & Imm. Past Chair → Chair, 2023
On filings since 2020
1 hr/week
No compensation reported
Philip Johnson
Director of Facilities
On filings since 2020
40 hrs/week
$104K (2020) → $126K (2024)
Susan Suek
Director of Nursing
On filings since 2022
40 hrs/week
$115K (2022) → $140K (2024)
Michael Jones
Director of Health Services
On filings since 2023
40 hrs/week
$146K (2023) → $171K (2024)
Todd Dumke
Director of Dining Services
On filings since 2023
40 hrs/week
$131K (2023) → $142K (2024)
Anthony Boyd
Board Member
On filings since 2020
1 hr/week
No compensation reported
Bonnie McAlister
Board Member
Chair → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Chris Brown
Board Member
On filings since 2020
1 hr/week
No compensation reported
Jennifer Koenig
Board Member
On filings since 2020
1 hr/week
No compensation reported
K. Alan Tutterow
Secretary Interim Treasurer
Secretary → Secretary & Interim Treasurer, 2023
Secretary & Interim Treasurer → Secretary Interim Treasurer, 2024
On filings since 2020
5 hrs/week
No compensation reported
Susan Shumaker
Board Member
On filings since 2020
1 hr/week
No compensation reported
Wendy Gatlin
Board Member
On filings since 2020
1 hr/week
No compensation reported
Ben Zuraw
Board Member
On filings since 2022
1 hr/week
No compensation reported
Bob Powell
Board Member
On filings since 2022
1 hr/week
No compensation reported
Kenneth Boggs
Vice Chair Imm Past Chai
Chair → Vice Chair & Imm. Past Chai, 2023
Vice Chair & Imm. Past Chai → Vice Chair Imm Past Chai, 2024
On filings since 2022
1 hr/week
No compensation reported
Sally Cone
Board Member
On filings since 2022
1 hr/week
No compensation reported
Tim Clontz
Board Member
On filings since 2022
1 hr/week
No compensation reported
Barry Canner
Board Member
On filings since 2023
1 hr/week
No compensation reported
Bob Chandler
Board Member
On filings since 2023
1 hr/week
No compensation reported
Jerry Bailey
Board Member
On filings since 2023
1 hr/week
No compensation reported
Jean Davison
Assistant Secretary
New on the 2024 filing
1 hr/week
No compensation reported
Warren Webster
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
Former officers (27)
- Former: Carole Simms (2022–2023) — Board Member
- Former: Dan Camia (2022–2023) — Board Member
- Former: Susan Cox (2022–2023) — Board Member
- Former: Susan McDonald (2022–2023) — Board Member
- Former: Daryl Ingold (2023) — Board Member
- Former: Jeff Blaser (2023) — Assistant Secretary
- Former: Jennifer Young (2023) — Board Member
- Former: Marty Stadler (2023) — Board Member
- Former: Rusty Holt (2023) — Board Member
- Former: Tom Steele (2023) — Board Member
- Former: Dale Whitfield (2020–2022) — Board Member
- Former: Danny Gatling (2020–2022) — Board Member
- Former: George Galvin (2020–2022) — Director of Dining Services
- Former: Janet Holbrook (2020–2022) — Controller
- Former: Leslye Tuck (2020–2022) — Board Member
- Former: Mark Hyman (2020–2022) — Board Member
- Former: Brian Tuckmantel (2022) — Treasurer
- Former: Ginna Freyaldenhoven (2022) — Board Member
- Former: Richard Beard (2022) — Board Member
- Former: Ann Zuraw (2020–2021) — Board Member
- Former: Don Gwynn (2020–2021) — Treasurer & CFO
- Former: Harold McLeod (2020–2021) — Board Member
- Former: Robert Powell (2020–2021) — Board Member
- Former: Garrett Saake (2021) — Director of Resident Relations
- Former: Alison Munroe- Lyles (2020) — Director of Nursing
- Former: Lloyd Peterson (2020) — Board Member
- Former: Steven Tanger (2020) — Board Member
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $236K, to Misti Ridenour (Executive Director). 5 officers or directors reported compensation on that filing.
Contact
Mailing address: 5603 New Garden Village Dr, Greensboro, NC 27410
Phone: (336) 545-5421
Frequently asked questions about Well-Spring Retirement Community Inc
How much does Well-Spring Retirement Community Inc give each year?
Well-Spring Retirement Community Inc gave $508K across 10 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $609K across 16 grants.
What is Well-Spring Retirement Community Inc's typical grant size?
Well-Spring Retirement Community Inc's median grant in 2024 was $10,000, and its average grant was $50,750, across 10 grants on its 2024 IRS Form 990. Organizations receiving their first grant from Well-Spring Retirement Community Inc that year got $6K on average.
Where does Well-Spring Retirement Community Inc give grants?
Well-Spring Retirement Community Inc gives mostly in North Carolina: 99% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Greensboro, NC (8 grants).
Does Well-Spring Retirement Community Inc give general operating support?
Yes: 100% of Well-Spring Retirement Community Inc's 2024 grants with a stated purpose (10 of 10) were for general or operating support, per its 2024 IRS Form 990.
Who are Well-Spring Retirement Community Inc's largest grantees?
Well-Spring Retirement Community Inc's largest 2024 grantees include Adult Center for Enrichment Inc ($328,000), Cone Health ($75,000) and Authoracare Foundation ($47,500), according to its 2024 IRS Form 990. Together they received 89% of its itemized 2024 grant dollars.
How large is Well-Spring Retirement Community Inc?
Well-Spring Retirement Community Inc reported $139.1M in total assets on its 2024 IRS Form 990. Its revenue that year was $43.0M.
What does Well-Spring Retirement Community Inc fund?
The organization states that its mission is to provide aging-adult services that create an experience exceeding the needs of an evolving population of older adults. See mission & focus areas ↑
How do I apply for a grant from Well-Spring Retirement Community Inc?
Well-Spring Retirement Community Inc has no public application process in the sources Grantable reviewed. Contact the foundation directly before submitting a request.
What is Well-Spring Retirement Community Inc's EIN?
Well-Spring Retirement Community Inc's EIN (Employer Identification Number) is 56-1497371. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Here's the math on researching Well-Spring Retirement Community Inc by hand.
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